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Xingfa Chemicals to Invest 80 Million Yuan in Chemicals Partnership Fund

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Hubei Xingfa Chemicals (SHA:600141) agreed to invest 80 million yuan in a partnership fund investing in high-end chemicals as a limited partner, according to a Shanghai bourse filing on Saturday.

The Chinese chemical manufacturer's shares closed 7% lower on Monday.

The company will own 40% of the Hubei Sanxia Xing'an Advanced Materials Seed Equity Investment Fund Partnership (Limited Partnership).

The partnership fund aims to raise 200 million yuan in funds to invest in projects related to phosphogypsum pollution prevention, critical chemicals for microelectronics, and high-end phosphorus- and silicon-based chemicals, especially in projects using technology from the Hubei Three Gorges Laboratory.

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